Finance minister Nirmala Sitharaman said it’s not only the rupee that’s under pressure, as currencies such as the Japanese Yen and the Korean Won had also fallen sharply against the dollar. The minister said the more significant challenge was persistent uncertainty in West Asia, while imports of crude oil, gas, fertilisers and gold were also
Oil prices plummeted as President Trump declared the Iran deal finalised, announcing the immediate, toll-free reopening of the Strait of Hormuz. This move eases fears of energy supply disruptions, with Brent crude and WTI futures seeing significant drops. The breakthrough follows intensive diplomatic efforts, promising a return to normal oil flow through the vital shipping
Commerce and Industry Minister Piyush Goyal urged French companies to invest in India’s manufacturing sector, highlighting the nation as a reliable partner offering scale, talent, and innovation. Speaking at the ‘Bharat Innovates’ event, Goyal emphasized India’s potential as both a large domestic market and a global export hub, driven by a vibrant startup ecosystem.
Following a fatal US military strike off the Oman coast that killed three Indian seafarers, India’s Directorate General of Shipping has advised recruitment agencies to halt seafarer deployments to conflict zones. Vessels in the Gulf region are urged to maintain heightened security vigilance amid escalating risks, with crew changes permitted only in emergencies with crew
India is set to boost domestic urea production by 25.4 lakh tonnes with two new plants commencing operations soon. This move aims to reduce import reliance and shield farmers from global price volatility. The government has also absorbed rising international prices, keeping retail fertilizer costs unchanged for farmers.
Gold prices are expected to trade within a narrow range as investors await central bank policy decisions and developments in US-Iran negotiations. Domestic gold futures saw a significant decline of over 3% during the week, influenced by easing energy market concerns and geopolitical uncertainties.
Finance Minister Nirmala Sitharaman stated that the rupee’s fluctuations are driven by global and domestic factors, with the RBI intervening only to curb excessive volatility, not to fix a specific rate. She also highlighted India’s position as the fastest-growing major economy and addressed the Karnataka funding row, emphasizing the Finance Commission’s role in fund allocation.
Chief Economic Adviser V Anantha Nageswaran defended India’s GDP statistics, stating the country does not artificially inflate growth figures through methodological changes. He emphasized that India follows internationally accepted practices and that revisions, like the recent rebasing, demonstrate transparency rather than manipulation. Nageswaran suggested criticism often stems from unmet expectations rather than data quality concerns.
Amazon is significantly increasing its investment in India, committing $35 billion by 2030 to expand its e-commerce, quick commerce, AI, and export operations. The company is entering its most aggressive expansion phase yet, aiming for long-term leadership in the rapidly growing Indian digital market. This push includes expanding Amazon Now to 100 cities with 1,000
Prime Minister Modi and French President Macron inaugurated Bharat Innovates 2026 in Nice, fostering India-France tech and innovation cooperation. The event connects Indian startups and institutions with global investors. Leaders emphasized shared vision and India’s growing role as a global innovation leader, highlighting achievements like Chandrayaan-3.
